Section 698.27 - Rights and remedies of obligees(a) General rule.--Subject to any contractual provisions or restrictions, an obligee shall have the following rights, in addition to any rights and remedies lawfully granted to such obligee: (1) The right, by mandamus, suit, action or proceeding at law or in equity, to compel the commission and the members, officers, agents or employees thereof to perform each and every term, provision and covenant contained in any bond or contract of the commission with or for the benefit of such obligee and to require the carrying out of any or all such covenants and agreements of the commission and the fulfillment of all duties imposed upon the commission by this act.(2) The right, by proceeding in equity, to obtain an injunction against any acts or things which may be unlawful or in violation of the rights of such obligee of the commission.(b) Receivers.--The commission shall have the power by its resolution, trust indenture or mortgage to confer upon any obligees holding or representing a specified percentage of bonds the right, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in such resolution or instrument, by suit, action or proceeding in any court of competent jurisdiction, to appoint a receiver of any real property or leasehold interest of the commission and of the rents, profits and receipts therefrom who shall have the authority as the court shall direct: (1) To enter and take possession of such real property or any leasehold interest.(2) To maintain such real property or leasehold interests.(3) To collect and receive all revenues or other income thereafter arising from such real property or leasehold interest and the operation thereof.(4) To keep and maintain any moneys received under this commission in a separate account and apply the same in accordance with the obligations of the commission as the court shall direct.(c) Restrictions.-- Except as otherwise provided in section 5.1, nothing in this section or any other section of this act shall authorize any receiver appointed pursuant to this act for the purpose of operating and maintaining any port facilities, port-related projects or property of the commission to sell, assign, mortgage or otherwise dispose of any of the assets of whatever kind or character belonging to the commission. It is the intention of this act to limit the powers of such receiver to the operation and maintenance of the port facilities, port-related projects and property of the commission as the court shall direct, and no holder or holders of bonds of the commission nor any trustee or other obligee shall ever have the right in any suit, action or proceeding, at law or in equity, to compel a receiver nor shall any receiver ever be authorized or any court be empowered to direct the receiver to sell, assign, mortgage or otherwise dispose of any assets of whatever kind or character belonging to the commission.(d) Accounting.--The resolution, trust indenture or mortgage of the commission may confer upon any obligees holding or representing a specified percentage of bonds the right, in addition to all rights that may otherwise be conferred, to institute a suit, action or proceeding in any court of competent jurisdiction, upon the happening of an event of default as defined in such resolution or instrument, to require the commission and the members thereof to account as if the commission and such members were the trustees of an express trust.1992, Dec. 14, P.L. 818, No. 133, § 7, imd. effective. Amended 2000, Dec. 20, P.L. 988, No. 140, § 3, effective in 60 days.